Minerals Technologies Inc. (NYSE:MTX) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas cut its stake in shares of Minerals Technologies Inc. (NYSE:MTX - Free Report) by 63.5% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 17,471 shares of the basic materials company's stock after selling 30,458 shares during the period. Teacher Retirement System of Texas owned about 0.05% of Minerals Technologies worth $1,111,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Quarry LP raised its position in Minerals Technologies by 536.5% during the fourth quarter. Quarry LP now owns 732 shares of the basic materials company's stock worth $56,000 after acquiring an additional 617 shares during the period. Vestcor Inc acquired a new position in Minerals Technologies during the fourth quarter worth $185,000. Cibc World Markets Corp purchased a new stake in shares of Minerals Technologies during the fourth quarter worth $226,000. PharVision Advisers LLC purchased a new stake in shares of Minerals Technologies during the fourth quarter worth $236,000. Finally, Sterling Capital Management LLC grew its holdings in shares of Minerals Technologies by 32.9% during the fourth quarter. Sterling Capital Management LLC now owns 3,589 shares of the basic materials company's stock worth $274,000 after buying an additional 888 shares in the last quarter. 97.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Minerals Technologies

In other news, CFO Erik Aldag acquired 1,000 shares of the company's stock in a transaction that occurred on Wednesday, April 30th. The stock was purchased at an average price of $50.37 per share, with a total value of $50,370.00. Following the completion of the acquisition, the chief financial officer owned 4,245 shares of the company's stock, valued at $213,820.65. This trade represents a 30.82% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kristina M. Johnson acquired 1,000 shares of the company's stock in a transaction that occurred on Friday, May 2nd. The stock was purchased at an average cost of $53.79 per share, with a total value of $53,790.00. Following the acquisition, the director directly owned 1,400 shares of the company's stock, valued at $75,306. This trade represents a 250.00% increase in their position. The disclosure for this purchase can be found here. Insiders purchased 2,370 shares of company stock valued at $124,255 in the last three months. 3.30% of the stock is currently owned by insiders.

Minerals Technologies Price Performance

Shares of Minerals Technologies stock traded up $0.46 during trading hours on Thursday, reaching $57.51. 312,396 shares of the company's stock were exchanged, compared to its average volume of 197,678. Minerals Technologies Inc. has a 1 year low of $49.54 and a 1 year high of $90.30. The company has a market capitalization of $1.82 billion, a P/E ratio of -74.69 and a beta of 1.20. The business has a fifty day moving average of $57.36 and a two-hundred day moving average of $63.39. The company has a quick ratio of 1.31, a current ratio of 1.89 and a debt-to-equity ratio of 0.59.

Minerals Technologies (NYSE:MTX - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The basic materials company reported $1.14 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.16 by ($0.02). Minerals Technologies had a negative net margin of 1.14% and a positive return on equity of 10.90%. The firm had revenue of $491.80 million during the quarter, compared to analysts' expectations of $502.03 million. During the same period in the prior year, the company posted $1.49 EPS. The company's revenue for the quarter was down 8.0% compared to the same quarter last year. As a group, research analysts predict that Minerals Technologies Inc. will post 6.62 earnings per share for the current fiscal year.

Minerals Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Investors of record on Friday, August 15th will be issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date of this dividend is Friday, August 15th. Minerals Technologies's dividend payout ratio is currently -57.14%.

Analyst Ratings Changes

A number of research firms have recently issued reports on MTX. Truist Financial dropped their target price on shares of Minerals Technologies from $92.00 to $80.00 and set a "buy" rating for the company in a report on Monday, April 28th. Wall Street Zen lowered shares of Minerals Technologies from a "buy" rating to a "hold" rating in a report on Wednesday, April 9th.

Minerals Technologies Profile

Minerals Technologies Inc develops, produces, and markets various mineral, mineral-based, and related systems and services. The company operates through two segments, Consumer & Specialties, and Engineered Solutions segments. The Consumer & Specialties segment offers household and personal care products, such as pet litter, personal care, fabric care, edible oil and other fluid purification, animal health, and agricultural products; and specialty additives products, including precipitated calcium carbonate and ground calcium carbonate products that are used in the paper, paperboard, and fiber based packaging industries, as well as automotive, construction, and table and food applications.